Takeda Pharmaceutical, a Japanese company, will vote for the $ 62 billion investor next month to buy Shire and intends to close the deal on January 8, hoping to provide the necessary support.
LONDON: Takeda Pharmaceutical, Japan, will vote for the $ 62 billion investor next month to buy Shire and intends to close the deal on January 8, hoping to provide the necessary support.
Shire's listing in London has risen to 3% in news, and Takeda has risen to the highest level since its interest in purchasing rare carriers in March.
This transaction is Japan's largest company, but two-thirds of the shareholders are required, some of them worried about debt burden of the extended companies.
Takeda announced on holding the deal on holding an Extraordinary General Meeting of Shareholders (EGM) on Monday 5 December.
Earlier, Takeda hoped to host the EGM in 2019, which was largely ignored by some Takeda family members.
"From the moment we hold an Extraordinary General Meeting of Shareholders, we hope that we will continue our dialogue with shareholders about the strong strategic and financial benefits of this transaction," said Christoph Weber, Chief Executive Officer.
Weber – French and the company's first non-Japanese general director, Shire, believes that Takeda will accelerate its growth, increase its international level, and increase profitability.
The deal still expects approval by European regulators, but two people who knew this issue told Reuters last week that Takeda had promised to approve the European Union anti-monopoly treaty.
Takeda Shire's SHP647 experimental drug has been proposed to eliminate anxiety related inflammatory diseases.
The removal has cleared the regulators in the US, Japan, China, and Brazil.
Weber was convinced last week that he would provide the investor's support for Shire's purchase, but it is unclear that Takeda is now his EGM.
Takeda, a market value of $ 32 billion, has provided a $ 30.9 billion bridge loan to finance the purchase of Shire, and some investors are skeptical of how much debt can be repaid.
In May, the Japanese company agreed to accept Shire, which was forced to raise its top ten worldwide drug sales ranking.
However, the expanded group, especially in hemophilia, is a new drug of Roche and the future of the new gene therapy in its development will face major challenges that threaten the main part of today's business in Shire.
(Ben Hirschler's report, editing of Jason Nailey and Louise Hawens)